Is America’s Bond Rating as Safe as Geithner Thinks It Is?

Posted on October 31, 2010 by Stan Guthrie

By Peter Roskam

China, Russia, and the oil-producing countries combine to hold about a third of our debt held by foreign entities, so any reluctance to purchase more of our debt is a huge threat to our bond rating and our fiscal stability. For perspective, the aforementioned countries hold a total of about $1.1 trillion in U.S. debt; the Democratic budget has to fund a deficit of $1.4 trillion this year alone. The $1.4 trillion Obama deficit is in excess of three times the largest Bush budget; in fact, every projected Obama deficit over the next ten years exceeds the largest Bush deficit.

About Stan Guthrie

Stan Guthrie is an editor at large for Christianity Today magazine and for the Chuck Colson Center for Christian Worldview. His latest book is God's Story in 66 Verses. He also is author of All that Jesus Asks: How His Questions Can Teach and Transform Us, Missions in the Third Millennium: 21 Key Trends for the 21st Century, and A Concise Guide to Bible Prophecy. He is co-author of The Sacrament of Evangelism. Besides authoring, writing, and editing books, Stan is a literary agent, bringing together good authors, good books, and good publishers. Stan writes the monthly Priorities colum for BreakPoint.org. He has appeared on National Public Radio's €œTell Me More,€ WGN's Milt Rosenberg program, and many Christian shows, including The Eric Metaxas Show and Moody Radio'€™s €œNew Day Florida.€ A licensed minister and an inspirational speaker, he served as moderator for the Christian Book Expo panel discussion, Does the God of Christianity Exist, and What Difference Does It Make?
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *